Invesco DB US Dollar Index Bearish Fund
UDN
33 hedge funds and large institutions have $45.5M invested in Invesco DB US Dollar Index Bearish Fund in 2025 Q4 according to their latest regulatory filings, with 8 funds opening new positions, 8 increasing their positions, 10 reducing their positions, and 4 closing their positions.
3,005% more call options, than puts
Call options by funds: $12.4M | Put options by funds: $398K
100% more first-time investments, than exits
New positions opened: 8 | Existing positions closed: 4
10% more funds holding
Funds holding: 30 → 33 (+3)
1.31% less ownership
Funds ownership: 34.1% → 32.79% (-1.3%)
11% less capital invested
Capital invested by funds: $51.3M → $45.5M (-$5.87M)
20% less repeat investments, than reductions
Existing positions increased: 8 | Existing positions reduced: 10
Top Buyers
| 1 |
GA
GFS Advisors
Houston,
Texas
|
+$2.97M |
| 2 |
AWAU
Alliance Wealth Advisors (Utah)
Centerville,
Utah
|
+$1.52M |
| 3 |
Bank of America
Charlotte,
North Carolina
|
+$667K |
| 4 |
UBS Group
Zurich,
Switzerland
|
+$601K |
| 5 |
BCA
Bay Colony Advisors
Concord,
Massachusetts
|
+$427K |
Top Sellers
| 1 |
Morgan Stanley
New York
|
-$6.41M |
| 2 |
Jane Street
New York
|
-$3.12M |
| 3 |
LPL Financial
San Diego,
California
|
-$820K |
| 4 |
SC
Solstein Capital
Menlo Park,
California
|
-$809K |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$403K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
KAS
26
Kestra Advisory Services
Austin,
Texas
| $88.1K | +$89.6K | +4,831 | New |
|
|
LB
27
Legacy Bridge
West Des Moines,
Iowa
| $77.5K | – | – | – |
|
|
DWA
28
Delos Wealth Advisors
Dallas,
Texas
| $56.3K | +$3.23K | +174 | +6% |
|
|
GWM
29
Geneos Wealth Management
Englewood,
Colorado
| $24.3K | +$24.7K | +1,331 | New |
|
|
SAM
30
Smartleaf Asset Management
Boston,
Massachusetts
| $1.93K | – | – | – |
|
|
BTI
31
Blue Trust Inc
Alpharetta,
Georgia
| $1.37K | -$1.85K | -100 | -57% |
|
|
AAP
32
Arax Advisory Partners
Denver,
Colorado
| $1.02K | +$1.04K | +56 | New |
|
33
Carson Wealth (CWM LLC)
Omaha,
Nebraska
| $1K | – | – | – |
|
|
SC
34
Solstein Capital
Menlo Park,
California
| – | -$809K | -43,000 | Closed |
|
|
IAN
35
Integrated Advisors Network
Dallas,
Texas
| – | -$374K | -19,852 | Closed |
|
36
Belvedere Trading
Chicago,
Illinois
| – | -$263K | -13,956 | Closed |
|
|
PVI
37
Pine Valley Investments
Marlton,
New Jersey
| – | -$207K | -11,017 | Closed |
|
UDN Hedge Fund Activity: Q4 2025 in Review
33 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Invesco DB US Dollar Index Bearish Fund (UDN) for Q4 2025, worth a combined $45.5M — down 11% from $51.3M a quarter earlier.
Buyers outnumbered sellers: 8 funds opened new UDN positions and 4 closed out — a net gain of 4 holders — while 8 added to existing stakes and 10 trimmed.
The largest buyer was GFS Advisors, opening a new position worth an estimated $2.97M. The largest seller was Morgan Stanley, cutting an estimated $6.41M.
- 33 institutional investors held Invesco DB US Dollar Index Bearish Fund (UDN) as of Q4 2025, up from 30 in Q3 2025.
- Funds reported $45.5M of Invesco DB US Dollar Index Bearish Fund stock for Q4 2025, down 11% quarter-over-quarter.
- 8 funds opened new Invesco DB US Dollar Index Bearish Fund positions in Q4 2025 and 4 closed out, a net change of +4 holders.
- The largest Invesco DB US Dollar Index Bearish Fund buyer in Q4 2025 was GFS Advisors, an estimated $2.97M added.
- The largest Invesco DB US Dollar Index Bearish Fund seller in Q4 2025 was Morgan Stanley, an estimated $6.41M sold.
Based on aggregated 13F filings for Q4 2025.